The main challenge of O0 Design was to better understand their financial performance and overall financial health. Due to the lack of reports and metrics, founders needed a system to track their expenses and make proper financial reporting. 

They also needed to improve their approach towards planning project capacity and pricing policy. The team realized that their current way of doing things didn’t paint a clear picture of the money coming in and going out.

And get this, the GM handled all the payments, and invoices. Communication regarding payment planning was only conducted through personal messages.

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Before talking about the revenue recognition concept, it’s essential to distinguish between revenue and cash, as these terms sound similar at first glance.

Cash is what customers pay you – the money that lands in your bank account.

On the other hand, revenue is earned when you deliver the product or service that was paid for, which doesn’t necessarily coincide as the payment can be made before or after providing the service.

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These metrics help you determine the worth of your company before and after receiving investments, impacting ownership percentages and investor relations.

Understanding these concepts empowers you to make informed decisions, negotiate better deals and attract the right investors.

But how do you determine your startup’s value? Do you have to hire outside experts to estimate it?

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